From ADQ to Lunate: Abu Dhabi sovereign wealth fund ADQ’s CEO Mohamed Hassan Alsuwaidi is stepping down from the helm of the emirate’s fastest-growing wealth fund to join Abu Dhabi-based alternative asset manager Lunate as executive chairman and managing partner, according to a statement. ADQ hasn’t named a successor so far.

The asset game: Alsuwaidi has led ADQ since its 2018 launch, overseeing the build-out of the platform and the tripling of assets to more than USD 263 bn. He now lands at Lunate — which manages around USD 115 bn — as the firm accelerates plans to more than double assets under management over the next five years and expand its global footprint.

Lunate has been busy as of late, becoming the first Abu Dhabi-based asset manager to launch UCITS ETFs in Europe at the start of the year, taking a minority stake in global hedge fund manager Brevan Howard, and launching the region’s first thematic ETF on the ADX last September.

Japanese investment bank Nomura has bolstered its Dubai investment advisory team with the hire of Kshitij Sawhney, who reports to Matthew Peh, head of investment advisory for Southeast Asia, Global South Asia, and the Middle East, CityWire reports, citing a memo. Sawhney’s career has included a tenure at UBS as executive director, as well as director-head of investment consulting (NRI and Africa) at Credit Suisse.

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